FACT: US Federal Reserve is a privately-owned company, sitting on its very own patch of land, immune to the US laws.
Q138
If The Federal Reserve is not a "federal" and if it owns the building and the land the building is on, why should the taxpayers be on the hook for a multi-BILLION renovation of a PRIVATE building on PRIVATE land?
"The Justice Department suggested prosecutors were investigating the cost overruns on Fed renovations to protect “taxpayer dollars,” but the project is being funded entirely by the Fed. Unlike most federal agencies [because it is not one], the Fed pays for its own operations, primarily by generating income from interest on government securities and fees charged to banks. Excess profits are returned to the U.S. Treasury."
https://www.nbcnews.com/politics/white-house/extreme-makeovers-federal-reserve-vs-white-house-renovations-rcna253717
Ohhhh.
Sounds kinda like skimming money (billions - article cited says 2, POTUS says 4 billion)* from profits that are supposed to be returned to the U.S. Treasury for private beautification, rooftop gardens, and so much more, on a private building for the use of a private entitiy on private land.
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In the video clip of POTUS and Powell walking through the construction, Powell grabs the paper Trump is holding and says, "You've included the Martin renovation. You just added athirdbuilding." Powell said the Martin renovation had been completed 5 years ago.
Trump says, "It's part of the overall complex."
Well, my, my.
Clips and article at
https://www.pbs.org/newshour/politics/watch-trump-and-powell-argue-over-total-costs-of-federal-reserve-building-renovations
A pic of the Martin building is posted here.
POTUS truthed a different picture of the Martin building recently, without identifying it, if memory serves, but with the caption, from memory, "What a beautiful building!"
Why has POTUS twice brought the Federal Reserve-owned and recently renovated Martin building to the attention of the world recently?